Theo Walcott Reportedly Will Sign Contract Extension with Arsenal

The speculation surrounding Arsenal star Theo Walcott's future finally appears to be coming to an end.

UPDATE: Wednesday, January 9th at 3:30 p.m. EST by Sam Westmoreland

The first reports that Arsenal winger/striker Theo Walcott has signed a contract extension to stay with Arsenal are starting to come out, this time courtesy of a report from Goal.com:

Under the new agreement that runs until the summer of 2017, the England international’s salary will climb to around £90,000-a-week, which will be bolstered by top-up bonuses and a multi-million pound signing-on fee.

Walcott had indicated his desire to stay at Emirates Stadium after being verbally offered the improved package by Arsenal during fruitful discussions over the last fortnight.

The 23-year-old forward has been enjoying the best season of his career at Emirates, scoring a team-best 8 goals on the year. After months of negotiations and reports that the young forward wanted out of the club, it would seem his recent run of form has finally earned him a new deal. While nothing is official yet, this report is certainly a good sign for the club as they try to secure their young core.

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After contract talks between Walcott and manager Arsène Wenger that would seemingly never end, a deal is reportedly finally in place (via Goal.com's Wayne Veysey):

Theo Walcott is poised to sign a new Arsenal contract this week, Goal.com can reveal.

The England international is close to finalising improved terms following fruitful talks over the last fortnight.

Goal.com understands that Walcott will put pen to paper on a deal that runs until 2017.

According to Veysey, the 23-year-old's deal will be worth £90,000 per week and "will be bolstered by top-up bonuses and a multi-million pound signing-on fee."

It's a hefty contract, no doubt. But it was quickly becoming apparent that Walcott was a player Arsenal desperately needed to keep at the Emirates, especially after losing Robin van Persie to Manchester United in August, which only further strengthened the anecdote that the Gunners were turning into a feeder club.

Not only does this move keep Walcott from following van Persie to an EPL rival, but it also means Wenger has a young, budding superstar to build around for the next four years.

In 16 Premier League appearances, the blazing midfielder/striker has tallied an impressive eight goals, six assists, a pass-success percentage of 83.9 and an average match rating of 7.15.

While his final product can often be frustrating, he has proven in the last 10 EPL matches (six goals, five assists) that he is doing more than finally hitting that ridiculous potential that had so many people in England drooling several years ago.

He is playing with a consistency that lasts for longer than a few weeks.